GM Maurice Ashley just announced a ground-breaking event, set for October 2014 Planet Hollywood in Las Vegas, the "Millionaire Chess Open." The event will feature a million dollars in guaranteed prizes including a $100,000 first prize in the Open section and $40,000 in various "Under sections." Early bird specials are also outlined, including a special available till January 31, 2014, which offers a chance at free hotel and airline tickets.

Maurice says on the website, "That's right: a million dollars absolutely guaranteed! No other Open tournament in the long and storied history of chess has ever come close to guaranteeing that kind of prize money. The Millionaire Chess Open will be the first, and it will signal a new era in prizes and recognition for players at all levels."